Shareholders Challenge Bylaws Limiting M&A Suits to Del. Chancery Court

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Kessler Topaz and Prickett, Jones & Elliott, fresh from winning a record $305 million attorney fee award in the Delaware Court of Chancery, want a judge to rule that companies can't adopt bylaws restricting shareholder suits to be filed exclusively in the Delaware court without first holding a shareholder vote. "Bring it on," says former SEC Commissioner Joseph Grundfest of Stanford Law, who's been championing such provisions.

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